FILE PHOTO: A screen displays the company logo for semiconductor and chipmaker GlobalFoundries Inc. during the company's IPO at the Nasdaq MarketSite in Times Square in New York City, U.S., October 28, 2021. REUTERS/Brendan McDermid/File Photo
(Reuters) -Contract chipmaker GlobalFoundries forecast revenue and profit for the third quarter below Wall Street estimates on Tuesday, as it grapples with a slow recovery in demand from clients in the consumer electronics market.
Shares of the world's third-largest chip foundry, already down around 15% this year, fell another 6% in premarket trading.
